Seven major Chinese financial associations have declared real-world asset (RWA) tokenization illegal, equating it with unauthorized fundraising and high-risk financial activity. The notice emphasizes that no legal approval exists for RWA token issuance or trading under Chinese law and warns of legal consequences for domestic support of such projects. This coordinated crackdown aims to eliminate RWA-related operations and services within China, tightening regulatory control amid broader efforts to restrict crypto activities.

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